Women own more than one-third of all non-farm businesses in the United States. That equates to about 10 million businesses in total. Despite these facts, women still face gender stereotypes when it comes to financing. Women can make the exact same sales pitch as a man, have a more secure business opportunity, and have investors prefer men over them.
That’s why knowing how to become an unstoppable female entrepreneur can take your idea to the next level. Here’s what you’ve got to do.
1. Know All Your Financing Options
85% of women are funding their businesses out of their own pocket. One-third are using their own personal credit cards. If you do need to take on debt, be smart about it. Instead of high APR credit cards, speak with your financial representative about the possibilities of an SBA 7(a) loan or other subsidized credit options.
2. Seek Out Lenders Who Want To Help
With credit tight, the lending market for small businesses is surprisingly competitive today. This means many lenders are focusing on niche areas for lending to maximize their profits. This means there are going to be specific programs with lenders in your area designed to help women who are following their entrepreneurial spirit.
3. Begin Networking
Women helping other women is one of the fastest growing areas of investment in the US right now. Join up with organizations like the National Association of Women Business Owners to connect with other entrepreneurs. Get involved with fundraising or crowdfunding opportunities that other women are promoting.
4. Build and Maintain Your Relationships
Your business banker needs to be one of your best friends. Others who can influence your credit score should also have close relationships with you and your company. These are the people who can help you build upon a strong foundation over time and establish your business as a secure investment opportunity.
Women are making great strides in the entrepreneurial world. The four tips above can help to make you become unstoppable. Now is one of the best times ever for a woman to start, grow, and operate a business. Take advantage of this opportunity.
Strong proponent of individual liberty and free speech. My goal is to present information that expands our awareness of crucial issues and exposes the manufactured illusion of freedom that we are sold in America. Question everything because nothing is what it seems.